v3.23.2
Contract Balances
 6 Months Ended
Jun. 30, 2023
Contract Balances  
Contract Balances

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12.Contract Balances

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Our valuation and qualifying accounts as of June 30, 2023 were as follows:

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Allowance for credit losses

    

Balance at
Beginning
of Period

    

Current Period Provision for Expected Credit Losses

    

Write-offs Charged Against Allowance

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Balance at
End of
Period

 

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(In thousands)

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For the six months ended June 30, 2023

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$

44,431

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$

35,709

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$

(35,042)

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$

45,098

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Contract liabilities arise when we bill our customers and receive consideration in advance of providing the service. Contract liabilities are recognized as revenue when the service has been provided to the customer. Contract liabilities are recorded in “Deferred revenue and other” and “Long-term deferred revenue and other long-term liabilities” on our Condensed Consolidated Balance Sheets.

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As of

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June 30,

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December 31,

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2023

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2022

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(In thousands)

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Contract liabilities

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$

612,277

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$

698,602

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Our beginning of period contract liability recorded as customer contract revenue during 2023 was $664 million.

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We apply a practical expedient and do not disclose the value of the remaining performance obligations for contracts that are less than one year in duration, which represent a substantial majority of our revenue. As such, the amount of revenue related to unsatisfied performance obligations is not necessarily indicative of our future revenue.